FSRA Proposes Enhanced Mortgage Brokering Conduct Standards to Protect Consumers

The Financial Services Regulatory Authority of Ontario (FSRA) wants to enhance conduct standards for mortgage brokering in Ontario.

FSRA is releasing a proposed Approach Guidance to help Ontario mortgage professionals comply with a proposed National Code of Conduct (Code). The Mortgage Broker Regulators’ Council of Canada (MBRCC) has been working with the Canadian mortgage brokering industry to develop this proposed Code. Consumers of mortgage brokering services can use the Code to learn more about their rights. They can also use it to find out what appropriate service looks like.

FSRA is seeking industry and consumer comments on our proposed approach to incorporating the Code in our supervision. We invite you to submit feedback via the FSRA website until January 15, 2021.

MBRCC is consulting with industry and consumers on the proposed National Code that FSRA may adopt.  

Learn more: FSRA is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members.  Learn more www.fsrao.ca.